FAC Explorer

Audit 35731

FY End
2022-06-30
Total Expended
$1.40M
Findings
2
Programs
6
Organization: Exceptional Children Have Opportunities (IL)
Year: 2022 Accepted: 2023-09-24
Auditor: Lauterbach & Amen LLP

Organization Exclusion Status:

Findings

ID Ref Severity Repeat Requirement
38482 2022-001 Material Weakness - L
614924 2022-001 Material Weakness - L

Programs

ALN Program Spent Major Findings
93.778 Medical Assistance Program $737,099 Yes 1
10.553 School Breakfast Program $119,863 - 0
97.036 Disaster Grants - Public Assistance (presidentially Declared Disasters) $79,286 - 0
84.425 Education Stabilization Fund $40,653 - 0
10.555 National School Lunch Program $38,083 - 0
10.559 Summer Food Service Program for Children $28,799 - 0

Contacts

Name Title Type
NHYFM6JQYD17 Tarra Batts Auditee
7089854405 Don Shaw Auditor
No contacts on file

Notes to SEFA

Title: NONCASH TRANSACTIONS Accounting Policies: BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the School District under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Because the Schedule presents only a selected portion of the operations of the School District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the School District.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpendituresExpenditures reported on the Schedule are reported on the accrual basis of accounting.Pass-Through EntitiesPass-through entity identifying numbers are presented on the Schedule where available. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The School District received $38,083 of Federal non-cash commodities passed through the Illinois State Board of Education.
Title: SUBRECIPIENT RELATIONSHIPS Accounting Policies: BASIS OF PRESENTATIONThe accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of the School District under programs of the federal government for the year ended June 30, 2022. The information in this Schedule is presented in accordance with the requirements of Uniform Guidance, Audits of States, Local Governments, and Non-Profit Organizations. Because the Schedule presents only a selected portion of the operations of the School District, it is not intended to and does not present the financial position, changes in net position, or cash flows of the School District.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESExpendituresExpenditures reported on the Schedule are reported on the accrual basis of accounting.Pass-Through EntitiesPass-through entity identifying numbers are presented on the Schedule where available. De Minimis Rate Used: N Rate Explanation: The auditee did not use the de minimis cost rate. The School District did not remit any funds to subrecipients.

Finding Details

Finding 2022-001
Monthly Bank Reconciliation Condition: During audit fieldwork, we found that the bank reconciliations were not being performed on a monthly basis. Criteria: A good system of internal controls would provide for a monthly review of all bank reconciliations, including the reconciliations performed by the Township Treasurer. Cause: As the June 30, 2022 Township Treasurer Pooled Investment reconciliation was unable to be provided, L&A qualified the opinion of the financial statements as the balance held by the Treasurer on-behalf of the Joint Agreement was unknown. Effect: The Joint Agreement?s main cash and investment accounts were unable to be confirmed to be accurate during audit fieldwork. Recommendation: We recommend as a means of better control, that bank reconciliation?s be performed each month and any variances be investigated and adjusted immediately. As these are performed by the Township Treasurer, we recommend the Joint Agreement require the monthly bank reconciliations and supporting documents to ensure the correct balances as allocated to Joint Agreement.
Finding 2022-001
Monthly Bank Reconciliation Condition: During audit fieldwork, we found that the bank reconciliations were not being performed on a monthly basis. Criteria: A good system of internal controls would provide for a monthly review of all bank reconciliations, including the reconciliations performed by the Township Treasurer. Cause: As the June 30, 2022 Township Treasurer Pooled Investment reconciliation was unable to be provided, L&A qualified the opinion of the financial statements as the balance held by the Treasurer on-behalf of the Joint Agreement was unknown. Effect: The Joint Agreement?s main cash and investment accounts were unable to be confirmed to be accurate during audit fieldwork. Recommendation: We recommend as a means of better control, that bank reconciliation?s be performed each month and any variances be investigated and adjusted immediately. As these are performed by the Township Treasurer, we recommend the Joint Agreement require the monthly bank reconciliations and supporting documents to ensure the correct balances as allocated to Joint Agreement.